Ryan Specialty (NYSE:RYAN) Price Target Increased to $56.00 by Analysts at JPMorgan Chase & Co.

Ryan Specialty (NYSE:RYAN) had its price target boosted by JPMorgan Chase & Co. from $54.00 to $56.00 in a research note released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

Several other research analysts have also weighed in on RYAN. Wolfe Research lowered Ryan Specialty from an outperform rating to a peer perform rating in a research report on Monday, May 6th. JMP Securities reiterated a market perform rating on shares of Ryan Specialty in a research note on Monday, April 15th. Bank of America began coverage on Ryan Specialty in a research note on Wednesday, May 22nd. They set a buy rating and a $67.00 target price for the company. Keefe, Bruyette & Woods reiterated an outperform rating and set a $62.00 target price on shares of Ryan Specialty in a research note on Tuesday, July 2nd. Finally, UBS Group lifted their target price on Ryan Specialty from $63.00 to $67.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $59.00.

Ryan Specialty Stock Up 9.7 %

Shares of Ryan Specialty stock opened at $68.56 on Friday. The business’s 50 day simple moving average is $57.18 and its 200 day simple moving average is $52.61. Ryan Specialty has a 52-week low of $41.49 and a 52-week high of $69.03. The firm has a market cap of $17.86 billion, a PE ratio of 129.36, a P/E/G ratio of 1.62 and a beta of 0.62. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.15 and a current ratio of 1.15.

Ryan Specialty (NYSE:RYAN) last announced its earnings results on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ryan Specialty had a return on equity of 49.43% and a net margin of 10.21%. The business had revenue of $695.40 million for the quarter, compared to analyst estimates of $695.56 million. During the same quarter last year, the firm earned $0.45 EPS. Ryan Specialty’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, analysts predict that Ryan Specialty will post 1.77 earnings per share for the current fiscal year.

Ryan Specialty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.64%. Ryan Specialty’s dividend payout ratio (DPR) is currently 83.02%.

Hedge Funds Weigh In On Ryan Specialty

Institutional investors and hedge funds have recently bought and sold shares of the company. Nebula Research & Development LLC acquired a new position in Ryan Specialty in the 4th quarter worth about $1,284,000. Capstone Investment Advisors LLC bought a new stake in shares of Ryan Specialty in the 1st quarter valued at about $727,000. Embree Financial Group bought a new stake in shares of Ryan Specialty in the 1st quarter valued at about $1,701,000. Geneva Capital Management LLC grew its position in shares of Ryan Specialty by 12.0% in the 1st quarter. Geneva Capital Management LLC now owns 475,552 shares of the company’s stock valued at $26,393,000 after buying an additional 50,947 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Ryan Specialty in the 4th quarter valued at about $1,075,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.